The Master of Science in International Economics and Finance (IEF) provides students with theoretical and analytical training in the economic, financial, cultural, and managerial aspects of global business and commerce. This 37-credit program is designed for international and U.S. students seeking to develop skills to effectively recommend strategies and policies to upper-management operating in a complex global business environment. The program, which can be completed in 18 months of fulltime course work, requires study in the areas of finance, statistics, and global economic issues. Graduates of this degree program will be wellpositioned to work in the profit, non-profit, and government sectors.

Economic analysts are employed to perform a wide range of duties for their respective employers:

  1. Establish or recommend to management economic strategies, objectives, and policies for the organization
  2. Contribute to the decision making process and accomplishment of tactical plans of the institution by counseling and advising on financial and business matters
  3. Perform economic and statistical analyses on proposed projects or for policy recommendation
  4. Evaluate operations on a systematic basis


Applicants must meet all the requirements of the Graduate School (page 104) as well as demonstrate adequate preparation for successful study in the program. Previous college-level course work in microeconomics, macroeconomics, financial accounting, calculus, and statistics is recommended. Students may be eligible for admission to this program as an Early Entry student. See page 105 for more information.

Any 700-level business course, or any graduate-level course not taken to fulfill the Quantitative Requirement above.

Economic Theory (12 credits)
ECON 621 Managerial Economics 3 Credits
ECON 622 Global Macroeconomic Business Conditions 3 Credits
ECON 626 International Trade 3 Credits
ECON 627 International Monetary Economics 3 Credits
Advanced Statistical Analysis (6 credits)
ECON 525 Applied Econometrics 3 Credits
ECON 543 Time Series Analysis 3 Credits
Quantitative Requirement (3 credits)
Choose one 
ECON 633 Mathematical Economics 3 Credits
MATH 523 Game Theory 3 Credits
STAT 540 Statistics for Decision Making 3 Credits
Finance Theory (6 credits)
FIN 620 Financial Analysis 3 Credits
Choose one course from the following options:
FIN 720 Global Investment Management 3 Credits
FIN 721 Derivatives & Hedge Fund Strategies 3 Credits
FIN 722 Global Capital Markets 3 Credits
FIN 723 Financial Modeling & Capital Creation 3 Credits
FIN 724 Global Financial Analysis 3 Credits
Any other 700-level Finance course
Professional and Communication Skills (1 credit)
GRD 683 Professional and Career Development 0 Credits
ECON 601 Current Topics in Economics: Micro 0.5 Credits
ECON 602 Current Topics in Economics: Macro 0.5 Credits
Electives (9 credits)
ECON 563 Introduction to SAS 3 Credits
ECON 573 Applied Data Science 3 Credits
ECON 639 Monetary Theory 3 Credits
ECON 695 Independent Study 1-3 Credits
ICP 661 International Political Economy 3 Credits
ICP 662 International Competitiveness, Politics, and Policies 3 Credits
ICP 670 Law and Legal Principles 3 Credits
ICP 671 International Business Transactions 3 Credits
ICP 678 International Commerce and Trade Law 3 Credits
ICP 690 Advanced Topics in International Commerce and Policy (as appropriate) 0-3 Credits
IT 533 Data Mining 3 Credits
STAT 541 Probability 3 Credits
STAT 542 Mathematical Statistics 3 Credits
STAT 544 Stochastic Processes 3 Credits
   Any 700-level business course, or any graduate-level course not taken to fulfill the Quantitative Requirement above.

ECON 686 Internship is available for this program, but cannot be applied to any degree requirement.

Note: Through special arrangement between the College of Business and the Graduate School, MS-IEF students pay the prevailing graduate student tuition rate for the two required courses in Finance. After completing the required six credits, students pay the prevailing MBA rate for any additional elective courses taken in Finance.

Note: GRD 500 Graduate Academic Success is required for all new international graduate students in their first semester of enrollment.

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